Merchant Cash Advance Documents FAQ
Documents for an MCA: bank statements and what funders read.
Most funders want your last three or four months of business bank statements, a signed application, a copy of your ID and a voided check. With us, you apply at afterfirstmca.com/apply and upload your statements as PDFs over an encrypted connection. We tell you if a funder needs anything else.
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Documents and bank statements
What to send, why statements matter, and how funders read them.
What documents do I need for an MCA?
Usually your last three or four months of business bank statements, a short signed application, a copy of your ID and a voided check. On larger amounts, some funders also ask for tax returns, card processing statements or a list of open advances. With us, you apply at afterfirstmca.com/apply and upload statements as PDFs over an encrypted connection.
Read more: Documents funders ask for
How many months of bank statements do funders want?
Most funders want the last three or four full months. Some want six or more for larger amounts or a seasonal business, so they can see the slow months too. Send complete statements with every page, including the blank ones. Missing pages slow a review down more than almost anything else in the file.
Read more: Documents funders ask for
What do funders look for in bank statements?
They read your actual monthly deposits, average daily balance, negative days, returned items and debits from other funders. They also check that deposits come from sales and not from transfers, loans or an old advance. A clean, steady picture matters more than one big month, and consistent balances help as much as high revenue.
Read more: Documents funders ask for
What are actual deposits?
Actual deposits are your sales revenue only. Funders take out transfers between your own accounts, loan or advance proceeds, refunds, and owner cash put in to cover a gap. The size of any advance is based on what's left. That's why a busy-looking account can still qualify for less than the owner expects.
Read more: MCA glossary
What is a current-month statement?
It's a statement or bank printout covering the current month so far. Funders ask for it to see recent activity and to spot any new advance or bounced payment since your last full statement. You can usually download it from online banking as a PDF. It's normal to be asked for one again just before funding.
Read more: MCA glossary
What format should my bank statements be in?
Send the PDF statements from your bank, not screenshots, photos or spreadsheets. Funders check that statements are original and unedited, and altered statements end a review fast. With us, you upload them as PDFs over an encrypted connection right after you apply. Please don't email them, because email isn't a safe place for bank records.
Read more: Security
Can I get an MCA without bank statements?
Rarely. Bank statements are how a funder sees your sales, so almost every MCA needs them. A few funders will read card processing statements, or use a read-only bank connection instead of PDFs, but the funder still sees your account activity. Be wary of anyone offering funding without any look at your revenue at all.
Read more: Documents funders ask for
Do I have to share my bank login?
No. Some funders offer a read-only bank connection as an option because it's faster, but you can send PDF statements instead. Never share your online banking password by email or over the phone. A read-only connection lets a funder see transactions without moving money, and you can turn it off once the review is done.
Read more: Security
What if my sales go into more than one bank account?
Send statements for every account that gets business revenue. Funders combine them to find your actual deposits, and leaving one out makes your revenue look smaller than it is. If you move money between accounts, say so, because those transfers get taken out. A short note on which account does what helps the review go faster.
Read more: Documents funders ask for
Should I explain a bad month in my statements?
Yes. A short note on a one-time drop, like a closure, a lost client, a big repair or a slow season, helps a funder read the file fairly. Keep it short and factual, and send it with your statements. A note won't fix an ongoing slide, but it can keep one bad month from sinking an otherwise steady file.
Read more: MCA qualifying FAQ
Still have a question?
Call 877-FUND-654 with any question. We call you back, usually the same business day, and we always talk with you before we shop your file.